The temple dedicated to the holy martyrs and unmercenaries Cosmas and Damian is located on the outskirts of ancient Galich, on Kozmodemyanskaya Mountain, and has a rich history. In the first half of the 15th century, the Cosmo-Damian Monastery was founded here, which, according to legend, was established by the boyar Ivan Ovin. His name is associated with the discovery in 1425 of the miraculous Ovin Icon of the Mother of God, significant for the Galich region. By the early 18th century, the monastery was abolished, and its church became a parish. In the mid-18th century, the construction of a new stone church began with funds from merchant Iakinf Vasilyevich Skornyashnikov, and it was consecrated in 1755.

In the first third of the 19th century, the church was rebuilt and decorated. In the 20th century, persecutions against the Church affected the names of the locality: in 1925, Ovinova Sloboda Street became Railway Street, and Kozmodemyanskaya Mountain was renamed Revolution Mountain. However, the church remained active until 1940. On August 23, 1940, the Galich City Executive Committee decided to close the church. Parishioners tried to preserve it by appealing to the authorities of the Yaroslavl region and the Presidium of the Supreme Soviet of the RSFSR, but on May 5, 1941, the church was closed. Soon, an artel for the production of footcloths was established here, the iconostasis was destroyed, the church building lost its dome, the bell tower was demolished, and the icon of the Wisdom of God disappeared. After the war, parishioners requested the return of the church to the Church, but on July 26, 1945, the Kostroma Regional Executive Committee refused.

In the 1980s, restoration work was carried out in the church, and an iconostasis from the closed Church of the Nativity of the Mother of God in the village of Rebrovo was installed. In September 1990, the church was returned to the believers, and on November 14 of the same year, the first service was held here. Currently, the rector of the church is Archpriest Joseph Yakubets. The church houses an ark with relics of saints Cosmas and Damian. Repair work was carried out for the feast of the patron saint.